Section 15 in Foreign Exchange Management (Deposit) Regulations, 2016
15. Opening of SNRR accounts by Pakistan and Bangladesh nationals and entities incorporated in Pakistan and Bangladesh requires prior approval of Reserve Bank.
[Schedule 5] [Substituted by Notification No. G.S.R. 1093(E), dated 9.11.2018 (w.e.f. 1.4.2016).](See Regulation 5(5))Terms and conditions for opening of Escrow AccountAn Escrow account in INR can be opened jointly and severally with an Authorised Dealer in India as an Escrow Agent in the following cases subject to the terms and conditions specified in this schedule.
